Divisible Office
For Sale
Contact for pricing
820 State St, Santa Barbara, CA 93101
Private offices, a conference room, elevator access, and outdoor patio space support varied workplace layouts.
Property Size6,350 SF
Days on Market2006
Property Features for 820 State St
General Information
Standard status
Active
Size
6,350 SF
Elevators
Yes
Amenities
conference room
outdoor patio space
Listing Agency:
Hayes Commercial Group
(805) 563-2111
Listed By:
Francois DeJohn · License #CA01144570
(805) 898-4365
Source:
Exprealty
Added: Apr 20, 2021
Changed: Sep 14
Last Checked: Oct 16 at 10:36AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hayes Commercial Group
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Investment Insights
Based on property information with market context.
The El Paseo Office Building offers divisible office suites with private offices, a conference room, elevator service, and outdoor patio space. Suite 100 contains 5,832 square feet on the first floor with a private restroom. Third-floor suites include Suite 301 at 3,410 SF with a common restroom and Suite 302 at 6,360 SF with a common restroom.
The property is located at 820 State St in downtown Santa Barbara, near the city’s shopping and dining corridor. The beach is less than a mile away. Suite 100 and Suite 302 are available now, while Suite 301 is scheduled to become available 4/15/26.
The property is located at 820 State St in downtown Santa Barbara, near the city’s shopping and dining corridor. The beach is less than a mile away. Suite 100 and Suite 302 are available now, while Suite 301 is scheduled to become available 4/15/26.
Key Highlights
- Divisible office suites with private offices, conference room, elevator service, and outdoor patio space
- Suite 100: 5,832 square feet on the first floor with a private restroom
- Suite 301: 3,410 SF on the third floor with a common restroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$113,283
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,265,660
$2.3M
Cap Rate 7%
$1,618,329
$1.6M
Cap Rate 9%
$1,258,700
$1.3M
Market Conditions
NOI Build-Up for 6,350 SF
Gross rent
$167.6K $26.40/SF
− Vacancy
−$16.6K −$2.61/SF
EGI
$151.0K $23.79/SF
− OpEx
−$37.8K −$5.95/SF
NOI
$113.3K $17.84/SF
Area
Santa Barbara County, CA
Vacancy
9.90%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,265,660
Cap Rate 7%
$1,618,329
Cap Rate 9%
$1,258,700
Alternative Uses
Best Use
Office B
$1.62M
$1.42M – $1.89M
NOI $113,283 @ 7.0% cap · market cap 11,328,300.00%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.99M
$1.74M – $2.33M
NOI $139,510 @ 7.0% cap · market cap 13,951,000.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,003
Businesses Nearby
Explore this area
Business Placement
Demographics for 93101, CA
30,513
Population
13,664
Households
2.2
Avg Household Size
36
Median Age
41%
College-Educated
83%
High-School Grad
3.2 sq mi
ZIP Area
9,535
Density / Sq Mi
$79,868
Median Household Income
$42,614
Median Earnings
$2,109
Median Rent
$1,122,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office units - Private offices, a conference room, elevator access, and outdoor patio space support varied workplace layouts.
Where is this office units located?
The property is located at 820 State St Santa Barbara, CA.
What are key features of this property?
This property features: Divisible office suites with private offices, conference room, elevator service, and outdoor patio space; Suite 100: 5,832 square feet on the first floor with a private restroom; Suite 301: 3,410 SF on the third floor with a common restroom
